M.A. Thesis:

Managerial ability٫ Financial Constraints and Corporate Investment Opportunity

Abstract In the area of corporate finance and accounting research, whether and how an executive has influenced corporate behavior and performance has long been an important issue. Managers' capabilities play an important role in a company's investments because they usually have large cash flow and long time horizons. The main purpose of this study is to investigate the management capability, financial constraint and investment opportunities of a company based on evidence of capital market. The research was done by applied approach and by descriptive-correlational method of post-event type using a sample of Tehran Stock Exchange companies. In this study, the hypotheses were tested using multiple regression based on evidence collected over the period 2009-2017 using R statistical software. The results showed that there was no significant relationship between management ability and investment opportunity. The financial constraint of the company does not moderate the relationship between management ability and the investment opportunity of the company. Keywords: Managerial ability, Financial Constraints, Corporate Investment Opportunity

Keywords: Keywords: Managerial ability, Financial Constraints, Corporate Investment Opportunity